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Journals / BDDK Bankacılık ve Finansal Piyasalar Dergisi / 2026 / Cilt: 7 Sayı: 1

The Effects of Exchange Rate Fluctuations on Corporations and Evidence from Turkey

Döviz Kuru Değişimlerinin Firma Performansına Etkileri: Türkiye Örneği

Ali Hakan Mutluay(Mersin Üniversitesi Erdemli Meslek Yüksekokulu.)
Tuncay Turan Turaboğlu(Mersin Üniversitesi İktisadi ve İdari Bilimler Fakültesi İşletme Bölümü.)
Pages
59–78
Publication Date
2013-06-01
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The ampirical results show that the exchange rate fluctuations affect firm’s performance with some time lag.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The Effects of Exchange Rate Fluctuations on Corporations and Evidence from TurkeyThis study analyzed the effects of exchange rate fluctuations on firms.
📊
Key Findings & Data:To this end, the effects of exchange rate fluctuations on the performance of publicly traded firms which are registered to Istanbul Stock Exchange ISE are investigated.
💡
Conclusion & Impact:The ampirical results show that the exchange rate fluctuations affect firm’s performance with some time lag.
🔬Design:Modeling & Simulation
📍Scope:2007 Verileri
⚙️Variables:Döviz Kuru · Döviz Kuru Etkileri · Firma Performansı

Abstract

The Effects of Exchange Rate Fluctuations on Corporations and Evidence from TurkeyThis study analyzed the effects of exchange rate fluctuations on firms. To this end, the effects of exchange rate fluctuations on the performance of publicly traded firms which are registered to Istanbul Stock Exchange ISE are investigated. This relationship is analyzed through regression models of both Adler and Dumas 1984 and Jorion 1990 using the data for the period between 1997 and 2007 on 55 publicly traded firms. The ampirical results show that the exchange rate fluctuations affect firm’s performance with some time lag. Morever, the effect of exchange rate fluctuations on firm performance, negatively depends on the share of export in total sales. Firms with higher export share are more vulnerable to exchange rate fluctuations

Özet

Bu çalışma, döviz kurundaki değişimin firmalar üzerindeki etkisini ölçmeyi amaçlamaktadır. Bu amaç doğrultusunda, hisse senetleri İMKB’de işlem gören firmaların performansının, dövizkurundaki değişimden etkilenip etkilenmediği belirlenmeye çalışılmıştır. İMKB’de k o t e l i 55 f i r m a n ı n 1997-2007 dönemine ait verilerinin kullanıldığı çalışmada, Adler ve Dumas 1984 ile Jorion 1990 tarafından geliştirilen regresyon modelleri ile söz konusu ilişkiler analizedilmiştir. Analizler sonucunda, firmaların performansının döviz kurlarındaki değişimden gecikmeli olarak etkilendiği görülmüştür. Ayrıca, firma performanslarının döviz kurundakideğişimlerden etkilenme düzeyinin, yurt dışına yapılan satışlar ile ters yönlü ilişkili olduğu ortaya çıkmıştır

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Cite This Article

Mutluay, A. H., Turaboğlu, T. T. (2013). The Effects of Exchange Rate Fluctuations on Corporations and Evidence from Turkey. BDDK Bankacılık ve Finansal Piyasalar Dergisi, Cilt: 7 Sayı: 1, 59–78. https://ajindex.com/articles/1193865

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